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Find the present value of the given future amount. $11,821.92 at 3.1% compounded annually for 7 years The present value is $ (Do not round

Find the present value of the given future amount. $11,821.92 at 3.1% compounded annually for 7 years The present value is \$ (Do not round until the final answer. Then round to the nearest cent as needed.)

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